Bubblemaps: PIPPIN insiders control 80% of the token supply, worth approximately $380 millions.

According to TechFlow, on December 16, blockchain analytics platform Bubblemaps reported that insiders of the PIPPIN token now control 80% of the supply, valued at approximately $380 million.

Bubblemaps pointed out: Since the last disclosure, 16 new wallets have emerged with the same pattern (funded by an exchange, receiving similar amounts of SOL, no history, and large PIPPIN withdrawals from CEX); another group of 11 wallets associated with Bitget was identified, collectively holding about 9% of the supply. The fund flows and timing are highly consistent, suggesting they may be controlled by the same entity.